AP - President-elect Barack Obama warned of dire and long-lasting consequences if Congress doesn't pump unprecedented dollars into the national economy, making an urgent pitch Thursday for his mammoth spending proposal in his first speech since the election.

AP - President-elect Barack Obama's proposed tax cuts are running into opposition from senators in his own party who say they won't do much to stimulate the economy or create jobs.

Reuters - Stocks were little changed on Thursday as investors took bleak signs of more deterioration in consumer spending as likely to spur Washington to approve a stimulus plan quickly to jolt the economy out of recession.

Reuters - Unemployment benefit rolls swelled to a 26-year high in the last week of December, data showed on Thursday, while retailers, including market leader Wal-Mart, reported poor sales as the year-long economic slump deepened.